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On June 1 , Ron s Gifts had 1 5 6 thank you cards on hand, with an average value of $ 0 . 7
On June Rons Gifts had thank you cards on hand, with an average value of $ each. Over the month, Rons sold thank you cards and received two orders from the distributor, each for cards. The cards in the first order cost Rons $ The cost of the second order of cards to Rons was $ each. If Rons uses LIFO accounting in which it is assumed that the last items received are the first items sold what is the value of the inventory at the end of the month?
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